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AirAsia to list Indonesia, Philippines units

Mon, Apr 13, 2015 - 1:38 PM

AirAsia, Asia's largest budget airline by passenger volume, will list its Indonesia and Philippines businesses, group CEO Tony Fernandes said on Monday, without giving any timeline or value for the exercise.

PHOTO: BLOOMBERG

[KUALA LUMPUR] AirAsia, Asia's largest budget airline by passenger volume, will list its Indonesia and Philippines businesses, group CEO Tony Fernandes said on Monday, without giving any timeline or value for the exercise.

The plan for both IPOs will depend on getting the respective board approvals, Mr Fernandes said on Twitter.

He said business in both the Philippines and Indonesia was doing very well, with great support from both governments. "We can confirm today that AirAsia Indonesia and AirAsia Philippines will be IPO. Subject to respective board approvals," Mr Fernandes said.

AirAsia owns 49 per cent of Indonesia AirAsia and 40 per cent of AirAsia Philippines.